The Hindu Business Line : ICRA, United Bank sign MoU

ICRA Ltd and the city-headquartered United Bank of India have signed a memorandum of understanding to rate the bank’s loans and its other exposures under the standardised approach of RBI’s new capital adequacy framework for Basel-II. According to statement by the company, its ratings for the standardised approach would be carried out under its ‘Line of Credit” rating service, and would enable UBI to assess the new risk weights applicable to its borr owers under Basel-II. The risk weights would be linked to the various rating categories and would be as per RBI’s relevant guidelines. ICRA will assist borrowers of the bank to obtain ratings and offer special terms to the clients of the banks covered by the MoU. An ICRA rating for the bank’s client will enable faster loan processing and competitive credit terms from the bank.

— Our Bureau

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